The Italian food-processing industry remains highly fragmented and in the last few years the sector has been characterised by growing consolidation and an increasing number of joint ventures. Indeed, in September 2009, bakery company Bauli acquired two historic Italian brands, Motta and Alemagna, from Swiss giant Nestl

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Italy Food and Drink Report Q1 2010
Published on January 2010
Report Summary
The Italian food-processing industry remains highly fragmented and in the last few years the sector has been characterised by
growing consolidation and an increasing number of joint ventures. Indeed, in September 2009, bakery company Bauli acquired two
historic Italian brands, Motta and Alemagna, from Swiss giant Nestlé. The latter had owned the brands for more than a decade. With
the acquisition, Bauli becomes the leading global manufacturer of the classic Italian cake panettone. At the end of the quarter, there
were unconfirmed reports that Nestlé is looking to sell off its Italian frozen food business, Findus Italy, in a deal worth up to
EUR800mn (US$1.2bn). Also during the quarter, Spanish olive oil producer SOS Cuetara announced its intention not to list its Italian
operations on the local share market. The decision was attributed to ongoing market volatility in the country, with the company stating
that it will sell a minority stake only when its turnover reaches EUR1bn (US$1.45bn) and the market is stable. In terms of future
opportunities for the sector, organic food could provide a stimulus. During H109, purchases of packaged organic foods for domestic
consumption in Italy registered a 7.4% y-o-y growth despite the ongoing economic slowdown, according to a survey of Italian families
by agricultural think tank Istituto de Servizi Per Il Mercato Agricolo Alimentare (ISMEA) and market research firm Nielsen. ISMEA said
that the appetite for healthier but pricier products defied the adverse impact of the economic downturn. As higher profit margins can
be charged on organic produce, organic farming could be an option for smaller Italian farms as competition in the market increases.
This has created opportunities for the country's food producers and retailers, with organic products often generating substantially
higher margins than their non-organic equivalent.
Another major growth opportunity could lie in rice. Rice production in Italy, Europe's largest producer, is set to surge over the coming
years, boosted by higher-than-average prices and favourable growing conditions. The country produces over half of Europe's entire
rice harvest, with around one-quarter consumed domestically. The high availability of water in many of the growing regions underpins
strong production and BMI expects forthcoming harvests to post robust year-on-year (y-o-y) growth as the European market begins to
recover from recession. We predict reasonably modest 5.19% and 4% y-o-y growth in 2009 and 2010, respectively, before
accelerating thereafter.
With the forecast volume of rice produced in Italy set to be over five times the level of domestic consumption by 2013, attention to
trends on the export market will be key to the fortunes of the sector. With regards to this, the UK, France and Germany are high
potential countries, where cosmopolitan populations are consuming more and more foreign foods. Italian consumers have traditionally
preferred short-grained japonica rice varieties ' the type used in risotto ' and, consequently, the vast majority of the rice growing area
in Italy has been devoted to this type. However, as exports have become more important to the industry, farmers are increasingly
experimenting with long-grained varieties, which are more popular in Northern Europe.
Table of Content
Executive Summary ....7
SWOT Analysis............8
Italy Food Industry SWOT.... 8
Italy Drink Industry SWOT ... 9
Italy Mass Grocery Retail Industry SWOT ........ 10
Business Environment ....11
BMI's Core Views For The Food & Drink Industry........ 11
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Western Europe Food & Drink Business Environment Ratings .. 12
Western Europe Food & Drink Business Environment Ratings Q1 2010 ...... 15
Italy Food & Drink Business Environment Rating.......... 16
Macroeconomic Outlook.......... 17
Table: Italy ' Economic Activity 18
Food .....19
Industry Forecast Scenario...... 19
Total Food Consumption .... 19
Table: Italy Food Consumption Indicators ' Historical Data & Forecasts ... 20
Trade ........... 20
Table: Food & Drink Trade Balance ' Historical Data & Forecasts ... 21
Canned Food ........ 21
Table: Canned Food Value/Volume Sales ' Historical Data & Forecasts .... 21
Confectionery ........ 22
Table: Confectionery Value/Volume Sales ' Historical Data & Forecasts .... 22
Industry Developments............. 23
Market Overview ....... 28
Overview Of Food Sector.... 28
Prepared Food ...... 29
Confectionery ........ 29
Organic ........ 29
Meat, Fish And Dairy ......... 30
Private Label ........ 30
Drink ....32
Industry Forecast Scenario...... 32
Soft Drinks ... 32
Table: Soft Drink Value/Volume Sales ' Historical Data & Forecasts . 33
Alcoholic Drinks ... 34
Table: Alcoholic Drink Value/Volume Sales ' Historical Data & Forecasts . 35
Industry Developments............. 36
Market Overview ....... 39
Hot Drinks ... 39
Soft Drinks ... 39
Table: Soft Drinks Sales Breakdown In Italy By Value (%) ... 40
Alcoholic Drinks ... 40
Table: Alcoholic Drinks Sales Breakdown In Italy By Value (%) ......... 40
Mass Grocery Retail..41
Industry Forecast Scenario...... 41
Table: Italy Mass Grocery Retail Sales By Format......... 42
Table: Sales Breakdown By Retail Format Type............. 42
Industry Developments............. 43
Market Overview ....... 45
Table: Structure Of Italy's Mass Grocery Retail Market By Estimated Number Of Outlets 47
Table: Sales Value By Format In Italy's Mass Grocery Retail Market (US$mn)......... 47
Table: Sales Value By Format In Italy's Mass Grocery Retail Market (EURmn) ........ 47
Table: Annual Average Sales Per Outlet By Format....... 48
Competitive Landscape ...49
Key Players ....... 49
Food ............ 49
Table: Key Players In Italy's Food Sector ........ 49
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Drink ............ 50
Table: Key Players In Italy's Drink Sector ....... 50
Mass Grocery Retail ........... 51
Table: Key Players In Italy's Mass Grocery Retail Sector ..... 51
Company Analysis ...... 53
Food ............ 53
Gruppo Galbani SpA (Lactalis) . 53
Perfetti van Melle SpA........ 54
Gruppo Barilla ..... 55
Carapelli Firenze SE SpA... 56
Drink ............ 57
Gruppo Campari ... 57
Mass Grocery Retail ........... 58
Conad .......... 58
Appendix ......59
Country Snapshot: Italy Demographic Data........59
Section 1: Population.......... 59
Table: Demographic Indicators, 2005-2030 ..... 59
Table: Rural/Urban Breakdown, 2005-2030 .... 60
Section 2: Education And Healthcare ...... 60
Table: Education, 2002-2005 .... 60
Table: Vital Statistics, 2005-2030 ............ 60
Section 3: Labour Market And Spending Power ............. 61
Table: Employment Indicators, 2001-2006 ....... 61
Table: Consumer Expenditure, 2000-2012 (US$) ........... 61
Table: Average Annual Manufacturing Wages, 2000-2012 ... 62
Food & Drink Business Environment Ratings ....63
Ratings Methodology . 63
Ratings Overview ....... 63
Ratings System ...... 63
Indicators ..... 63
Limits Of Potential Returns. 64
Risks To Realisation Of Potential Returns ........ 65
Weighting ..... 66
BMI Food & Drink Industry Glossary .....67
Food & Drink ... 67
Mass Grocery Retail .. 67
BMI Food & Drink Forecasting & Sourcing .........69
How We Generate Our Industry Forecasts ... 69
Sourcing ............ 70
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